What are you hoping to do with it if you connected it? If you're hoping to deal with the image data coming from the camera, I think you will find the Arduino platform hopelessly under-powered for that. However, if there is some sort of control interface on the camera you'd like to interface with, that can almost certainly be made to work. However, you will need to find the specs for the camera module you've got.

Currently I faced the following problems:- Finding the datasheet or specs for the CCD Camera- Do I need to connect and how to connect the 10mw micro transmitter to arduino ? (tried to google and found out that there should be a total of 4 wires, red, black, yellow and white. But mine is short of the white wire)- What is the use of the blue board ? (Is it a voltage level converter ?)Any help or suggestion would be appreciated. :]

If you think you're going to somehow process/analyze the video signal natively on the arduino, you've got another think coming. The ATmega328 just doesn't have the memory or cpu power to do that. Is there a shield you're intending to use for the video processing? Without something like this: http://nootropicdesign.com/ve/, I don't think you'll have any luck.

Can anyone tell me how do i connect the ccd camera to the micro transmitter ?Should there be a total of 4 wires (red, black, yellow, white) from the ccd camera to the micro transmitter? Because currently I only have 3 wires (red, black, yellow) from the ccd camera to the micro transmitter.